Altamira Gold Corp. reports trench results of 6m @ 21.74g/t gold at the new Baldo East zone, Cajueiro Project, Brazil
www.altamiragold.com | TSXV: ALTA
1500 - 409 Granville Street, Vancouver, BC V6C 1T2
TEL +1 604 676 5660
Altamira Gold Corp. reports trench results of 6m @ 21.74g/t gold
at the new Baldo East zone, Cajueiro Project, Brazil
August 29, 2017 – Altamira Gold Corp. (T SXV: ALTA) (FSE: T6UP) (USA: EQTRF),
(“Altamira” or the “ Company”) is pleased to provide additional results from the ongoing
drilling and trenching program at the Cajueiro project located in we stern Brazil which is
designed to further expand on the discoveries re cently announced at the Baldo East and Toninho
targets. Highlights are as follows:-
Results from Trench TCBL-20 include 6m @ 21.74g/t gold including 3m @ 43.02g/t .
This is the western-most trench completed to date at Baldo East.
Results from Trench TCBL-19 which is curr ently the eastern-most trench on the Baldo
East zone include 1m @ 13.33g/t gold and 9m @ 1.84g/t gold.
The strike length of the Baldo East zone has more than doub led to 570m in an east-west
direction having been identified in five adja cent trenches. Recent trench results at Baldo
East include 3m @ 6.54g/t including 1m @ 17.54g/ t, 3m @ 5.83g/t including 1m @
16.24g/t, and 1m @ 9.15g/t gold. The zone remains open both to the east and west
Ten diamond drill holes have been completed thus far at Cajueiro as part of this drill
program with results pending. The program of mechanical trenching is continuing with
2,716m completed thus far
In terms of drilling at Cajueiro, ten diamond drill holes have been completed thus far during this
campaign in three new target areas (see attached map) and results are currently pending. It is
anticipated that the drill rig will move to the Cr epori project which has not been previously drill
tested, during late August, to allow for receipt of all the drill results from Cajuiero.
Baldo East
Surface rock samples from the Baldo East area range from 3.4 to 118.4g/t gold . Thus far, the
new Baldo East zone has been identified in fi ve trenches, three of which were reported on
previously (see press release dated 1st August 2017) and included 1m @ 3.49g/t + 3m @ 6.54g/t
including 1m @ 17.54g/t, + 6m @ 2.26g/t in trench 10, 3m @ 5.83g/t gold including 1m @
16.24g/t in trench 13, and 1m @ 9.15 g/t + 9m @ 1.19g/t in trench 18.
Two new trenches were developed on either si de of the existing trenches. Trench 20 was
developed 100m west of trench 10 and returned 6m @ 21.74g/t gold including 3m @ 43.02g/t.
The zone remains open to the west. Trench 19 was developed 100m east of trench 18 and
returned 1m @ 13.33g/t gold and 9m @ 1.84g/t gold. The zone remains open to the east and has
now been traced for 570m along strike (see map) more than doubling the +250m strike length
inferred from the previous press release (see press release dated 1st August 2017).
Results are currently pending on fo ur diamond drill holes which are designed to test the vertical
extent of the Baldo East zone.
Toninho
Three additional trenches have been develope d at Toninho along with three additional diamond
drill holes and results are pending.
Future Plans
The drill rig will now move to the Crepori project located 280km north of Cajuiero in an area of
extensive historic placer gold work ings. This will allow for receipt of drill results on the initial
10 diamond drill holes at Cajuiero. Crepori has never been previously drill tested and has
returned surface gold values from outcropping high grade veins up to 1022g/t gold.
Other
The Company also announces that it has entered into agreements to settle an aggregate amount
of $42,500 in fees owed to certain arm's le ngth creditors of the Company (the “Debt
Settlement”). The debt will be settled thr ough the issuance of 236,111 common shares of the
Company (the “Shares”) at a deemed price of $0.18 per Share. The issuance of the Shares in
connection with the Debt Settlement is subject to the approval of the TSX Venture Exchange and
subject to a four-month hold period.
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold deposits within western
central Brazil. The Company holds 12 projec ts comprising approximately 200,000 hectares,
within the prolific Juruena gold belt which hist orically produced an es timated 7 to 10Moz of
placer gold. The Company’s advanced Cajueiro project has an NI 43-101 compliant resources of
8.64Mt @ 0.78 g/t Au (for 214,000oz) in the Indicated Resource category and 9.53Mt @ 0.66 g/t
Au (for 204,000oz) in the Inferred Resource cate gory and an additional 1.37Mt @ 1.61 g/t Au in
oxides (for 79,000oz in saprolite) in the Inferred Resource category.
On Behalf of the Board of Directors,
ALTAMIRA GOLD CORP.
“Alan Carter”
Alan Carter
President & CEO
Tel: 604.676.5660
Guillermo Hughes, P. Geo., a consultant to the Com pany as well as a Qualified Person as defined by
National Instrument 43-101, supervised the preparation of the technical information in this news release.
Neither TSX Venture Exchange nor it Regulation Services Pr ovider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements in this document which are not purely hi storical are forward-looking statements, including
any statements regarding beliefs, plans , expectations or intentions regardi ng the future. It is important to
note that actual outcomes and the Company’s actual resu lts could differ materially from those in such
forward-looking statements. Except as required by law, we do not undertake to update these forward
looking statements.